Sensex plunges 245 points on political uncertainty, global cues

Karnataka Elections: Twitterati Mocks Rahul Gandhi With Tons of Memes

Karnataka Elections: Twitterati Mocks Rahul Gandhi With Tons of Memes

Market Closing: Benchmark indices closed sharply lower on Wednesday as uncertainty remained over the formation of government in Karnataka.

According to market analysts, heavy selling pressure was witnessed in banking, oil and gas and automobile stocks.

At 3.30 p.m., the wider 50-scrip Nifty of the National Stock Exchange (NSE) provisionally closed at 10,682.70 points - down 58.40 points or 0.54 per cent from the previous close of 10,741.10 points.

The 50-share Nifty reclaimed the key 10900-mark to touch a high of 10929.20 in initial trade and fell back by 4.75 points, or 0.04 per cent, to end at 10801.85.

The BSE index which opened with a slump of almost 90 points had extended its losses to more than 200 points in morning trade.

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But O'Neill added that officers do not target "any people of color who have no nexus to violence. The move comes after the release of two major reports about marijuana in New York State.

Besides, volatility was evident as the Sensex touched a high of 35,510.01 points and a low of 35,087.82 points during the intra-day trade session. In the broader market, the BSE Midcap and the BSE Smallcap indices rallied up to 0.6 per cent.

Besides domestic cues, Abhijeet Dey, Senior Fund Manager, Equities at BNP Paribas Mutual Fund said that stock markets in India were impacted by weak United States and Asian shares. The BSE has a market valuation of $1.70 trillion as of January 23, 2015.

On the currency front, the Indian rupee strengthened by 72 paise against the United States dollar to 67.80, from its previous close at 68.08 per greenback. As per data available, yesterday foreign portfolio investors sold shares worth a net Rs 518.47 crore, while domestic institutional investors bought shares worth Rs 531.33 crore.

Shares of Nucleus Software Exports Limited (NSE:NUCLEUS) last traded at 398.2, representing a move of -2.66%, or -10.9 per share, on volume of 33,633 shares. "And the small cap index rallied".

Prominent losers included Hero MotoCorp, ICICI Bank, SBI, Adani Ports, RIL, ONGC, Axis Bank, Bajaj Auto, M&M, Coal India, IndusInd Bank, NTPC and Bharti Airtel, falling by up to 3.27 per cent.

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